João Moreira Rato approved by ECB as Pharol Chairman

The European Central Bank (ECB) has approved João Moreira Rato to serve as the Chairman of the Board of Directors for Pharol. This authorization was required because Rato currently holds a position as a non-executive director at Caixa Geral de Depósitos (CGD).

Pharol's Extraordinary General Shareholders' Meeting previously approved Rato's election on July 30, with a mandate set to run until December 31, 2028. Rato, who holds a PhD in Economics from the University of Chicago, succeeds Luís Palha da Silva. His professional background includes leadership roles at the IGCP (Agency for Management of Public Debt) and experience at institutions such as Goldman Sachs, Morgan Stanley, and Novobanco.